The hyperscalers delivered better than expected results in Q4, reflecting a moderation of optimization headwinds and increased demand for AI services. I review the earnings reports and consider the implications for the rest of software infrastructure.

@HelixCapital_ Thanks - yes, I agree. The list of potential adjacencies is extensive as you move beyond core runtime and data infra.

@XEdJones Hi Ed - thanks for the kind words!

@iampatelrp Thanks - appreciate the feedback.

@cl72Trader You are welcome - appreciate the feedback.

@The_Patent_Guru Hi - thanks for the feedback. Yes - I plan to continue coverage. Had a few other areas of focus outside of analysis that have taken up considerable time recently.

@IvanaSpear @BloombergTV Was randomly watching Bloomberg TV at noon and you popped in. Well done! Great coverage and solid commentary. Helpful perspective on AMD's results. Congrats.

@NickeNumbers Thanks for the feedback!

Cloudflare delivered a better than expected earnings report in Q2, with particular strength in large customer additions and improved operating leverage. In this post, I review the results and gauge the impact of their expanding product offerings. $NET

@thedealdirector Fair point - worth watching. I sometimes find it difficult to connect anonymous public employee reviews to actual company performance. Personally, I have worked at companies with great reviews that perform terribly and vice versa. Also, the layoff in Jan would factor into this.

@FinallyFoolin No problem - glad you found the post helpful.

@XEdJones Thanks for the kind words, Ed. Glad the content is helpful.

@XEdJones @FinallyFoolin Ha, ha. Wish it were that easy!

@vasilist @MoritzMDrews Thanks - Workload optimization has always existed. The impact is more acute now because much of the typical post-launch tuning was deferred during Covid. Also, most cloud native companies over-provisioned. After optimization debt has been paid, we should return to steady state.

@Sergio_Ramos_S Hi - I was looking for more on revenue and customer activity. Profitability improved further and product adoption metrics maintained their trajectory. May take another 1-2 q's for optimization headwinds to fully subside. Like new product announcements from Dash. Still invested.

Snowflake and Databricks held their annual user conferences during the last week of June. In this post, I parse through all the product announcements and try to infer how each is positioning their platform relative to the evolving AI opportunity. $SNOW

MongoDB expands relationship with Microsoft. Expected to increase workload migrations to MongoDB Atlas on MS Azure. $MDB